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FOR IMMEDIATE RELEASE Contact: Ann-Marie Birdwell

April 19, 2018 ambirdwell@birdwellhellerstrategies.com

After Discovering RPT Chairman’s Record of Hedge Fund Fraud, Texas GOP Candidate
Urges Return to Integrity

(Austin)- After uncovering news of RPT Chairman James Dickey’s record of Classic Hedge
Fund Fraud that resulted in tens of millions of dollars in losses, Cindy Asche of Frisco called for
a return to honesty, transparency, and integrity in leadership for the Republican Party of Texas.

In 2004, current RPT Chairman James Dickey was charged by the federal Securities and
Exchange Commission with classic hedge fund fraud, in violation of multiple federal statutes.*
The original complaint described repeated, and knowingly fraudulent, misrepresentations made
by Dickey about the value of hedge fund investments being sold to and held by investors,
resulting in the investors losing tens of millions of dollars. When the losses came to light, it was
falsely asserted that they were partly a result of events surrounding the World Trade Center
tragedy on September 11, 2001.

During the SEC investigation, Dickey refused to admit even undisputed facts and instead
invoked the Fifth Amendment so many times that the SEC requested that the court draw an
inference of guilt from his having done so. On January 11, 2006, Mr. Dickey signed a plea and
avoided a trial, agreeing “not to take any action or to make or permit to be made any public
statement denying, directly or indirectly, any allegation in the Complaint or creating the
impression that the Complaint is without factual basis,” and in doing so avoided the maximum
penalty. Thereafter, his partner underwent a three-week jury trial, in which he was found guilty
of multiple counts of knowingly and intentionally defrauding multiple investors and assessed
huge penalties.

Asche said, “The Chairman of the Republican Party of Texas is obligated to all Republicans,
including grassroots members, party leaders, donors, and elected officials, to be directed by our
core values, both personally and as the head of our Party, and have integrity that is above
reproach.”

The election for Chairman of the Republican Party of Texas will take place June 14-16 at the
Texas GOP State Convention in San Antonio.

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*Civil Action No. 3:04-CV-1320-K in the U. S. District Court for the Northern District of Texas,
Dallas Division

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